Europe: Shipments to Europe totaled 64.3 million pounds, a 3% increase compared to last year, bringing year-to-date shipments nearly in line with last year’s totals. While demand remains steady, several countries on the continent are showing mixed signals. Spain continues to lag when compared to last year, while the Netherlands has experienced robust growth. Germany and the UK are also trailing compared to the prior year, while France is showing an increase. With local stocks now becoming available and many California sellers offering European grades, we expect demand to remain relatively flat. Middle East: The Middle East posted another strong month of shipments, totaling 26.6 million pounds, a 13% increase compared to last year. Year-to-date shipments are now ahead of last year by 33.8%, totaling 174.7 million pounds. In the past couple of weeks, buying interest has picked up following the holiday lull, with a focus on February shipments. Turkey (65%), the UAE (11%), and Saudi Arabia (84%) have all seen significant year-over-year growth, demonstrating the region’s strong demand for California almonds. With healthy local stocks, in-country prices are currently being offered lower than California’s. As local stocks continue to deplete, the need for replenishment will follow, signaling that sustained demand in the coming weeks is expected. Domestic: December shipments totaled 56 million pounds, 1% behind last year. Year-to-date domestic shipments are at 296 million pounds, down 1% compared to the prior year. New sales for the domestic market in December were 58 million pounds, compared to 65 million pounds last year. Commitments for the largest market currently stand at 220 million pounds, lagging last year by 20.7% due to the hand-to-mouth purchasing strategy employed by buyers. With no sign of price softening, expect buyers who have been waiting to secure coverage to come to market in the coming weeks.
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JANUARY–FEBRUARY 2025
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